Shell Energy Solutions has bought a stake in Indian renewables business Orb Energy, acquiring just less-than 20% of the solar company for an undisclosed amount, and boosting its renewables interests in the region.
The company is also looking for a new head of power to manage its growing interests in the region, and is one of the front-runners to buy Indian developer Continuum Wind from Morgan Stanley, and has put its best foot forward in the country’s first offshore wind tender.
Orb, based in Bangalore targets the small-and-medium-sized (SMME) market, has supplied over 160,000 solar PV systems to date, totalling 75MW since beginning operations in 2006.
Both the latest acquisition, as well as the company’s search for a suitable executive to manage its aspirations are part of Shell Energy Solutions’ push towards renewables globally.
Brian Davis, vice president at Shell Energy Solutions, said: “This is a vital and growing sector, with great potential to contribute to the country’s renewable energy ambitions.”
Shell Energy India outlined its strategy in a job advertisement for a new head of power which will be based in Mumbai.
The company noted that the incumbent will “be responsible for delivering SEI’s strategic agenda in the growing power sector starting with strategic market assessment and developing a market entry strategy to identifying, evaluating and progressing potential opportunities”.
Managing the energy transition is one of the main will be a key focus at Indian Utility Week or POWERGEN India which takes place in New Delhi next May. For more details visit https://www.powergen-india.com/ or IUW.com.
According to the ad, the new executive will eventually lead a team in the country and will identify new opportunities “that could be standalone gas, or integrated gas and renewable prospects.”